4,926 Shares in Avis Budget Group, Inc. (NASDAQ:CAR) Acquired by Versor Investments LP

Versor Investments LP purchased a new stake in Avis Budget Group, Inc. (NASDAQ:CAR - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,926 shares of the business services provider's stock, valued at approximately $431,000.

Other large investors have also made changes to their positions in the company. Wolverine Asset Management LLC lifted its position in Avis Budget Group by 93.4% during the third quarter. Wolverine Asset Management LLC now owns 16,771 shares of the business services provider's stock worth $1,469,000 after acquiring an additional 8,100 shares during the last quarter. Sigma Planning Corp acquired a new position in shares of Avis Budget Group during the third quarter worth $353,000. Nisa Investment Advisors LLC lifted its holdings in shares of Avis Budget Group by 293.3% during the third quarter. Nisa Investment Advisors LLC now owns 409 shares of the business services provider's stock worth $36,000 after purchasing an additional 305 shares during the period. Strategic Investment Solutions Inc. IL lifted its holdings in Avis Budget Group by 198.3% in the third quarter. Strategic Investment Solutions Inc. IL now owns 361 shares of the business services provider's stock valued at $32,000 after buying an additional 240 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Avis Budget Group by 19,203.5% during the third quarter. International Assets Investment Management LLC now owns 481,044 shares of the business services provider's stock valued at $421,350,000 after purchasing an additional 478,552 shares during the period. Institutional investors own 96.35% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on CAR shares. Barclays assumed coverage on shares of Avis Budget Group in a research note on Thursday, September 19th. They issued an "equal weight" rating and a $105.00 target price on the stock. The Goldman Sachs Group lowered their price target on shares of Avis Budget Group from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Avis Budget Group from $145.00 to $143.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price target on shares of Avis Budget Group from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Finally, StockNews.com upgraded shares of Avis Budget Group from a "sell" rating to a "hold" rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.13.

Avis Budget Group Stock Down 5.9 %

Shares of NASDAQ CAR traded down $6.31 during mid-day trading on Friday, hitting $100.25. 572,191 shares of the company were exchanged, compared to its average volume of 725,531. Avis Budget Group, Inc. has a 1-year low of $65.73 and a 1-year high of $204.77. The stock has a 50 day simple moving average of $84.21 and a 200-day simple moving average of $96.31. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 9.77 and a beta of 2.14.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The business services provider reported $6.65 earnings per share for the quarter, missing analysts' consensus estimates of $8.55 by ($1.90). The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.53 billion. Avis Budget Group had a net margin of 3.34% and a negative return on equity of 101.41%. Avis Budget Group's revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $16.78 earnings per share. Analysts anticipate that Avis Budget Group, Inc. will post 5.24 earnings per share for the current fiscal year.

About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; and the Zipcar brand, a car sharing network, as well as the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers comprising Budget car rental, and Budget Truck, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of dealer-operated and company-operated locations that serve the light commercial and consumer sectors in the continental United States.